It is insisted, that the present situation of our country is
such, as not to admit of a delay in forming a new government,
or of time sufficient to deliberate and agree upon
the amendments which are proper, without involving ourselves
in a state of anarchy and confusion.

On this head, all the powers of rhetoric, and arts of description,
are employed to paint the condition of this
country, in the most hideous and frightful colours. We are
told, that agriculture is without encouragement; trade is
languishing; private faith and credit are disregarded, and
public credit is prostrate; that the laws and magistrates are
contemned and set at nought; that a spirit of licentiousness
is rampant, and ready to break over every bound set to it
by the government; that private embarrassments and distresses
invade the house of every man of middling property,
and insecurity threatens every man in affluent circumstances:
in short, that we are in a state of the most
grievous calamity at home, and that we are contemptible
abroad, the scorn of foreign nations, and the ridicule of
the world. From this high-wrought picture, one would
suppose, that we were in a condition the most deplorable
of any people upon earth. But suffer me, my countrymen,
to call your attention to a serious and sober estimate of the
situation in which you are placed, while I trace the embarrassments
under which you labour, to their true sources.
What is your condition? Does not every man sit under his
own vine and under his own fig-tree, having none to make
him afraid? Does not every one follow his calling without
impediments and receive the reward of his well-earned industry?
The farmer cultivates his land, and reaps the fruit
which the bounty of heaven bestows on his honest toil.
The mechanic is exercised in his art, and receives the reward
of his labour. The merchant drives his commerce,
and none can deprive him of the gain he honestly acquires;
all classes and callings of men amongst us are protected
in their various pursuits, and secured by the laws in
the possession and enjoyment of the property obtained in
those pursuits. The laws are as well executed as they ever
were, in this or any other country. Neither the hand of
private violence, nor the more to be dreaded hand of legal
oppression, are reached out to distress us.

It is true, many individuals labour under embarrassments,
but these are to be imputed to the unavoidable circumstances
of things, rather than to any defect in our governments.
We have just emerged from a long and
expensive war. During its existence few people were in a
situation to encrease their fortunes, but many to diminish
them. Debts contracted before the war were left unpaid
while it existed, and these were left a burden too heavy to
be borne at the commencement of peace. Add to these,
that when the war was over, too many of us, instead of
reassuming our old habits of frugality and industry, by
which alone every country must be placed in a prosperous
condition, took up the profuse use of foreign commodities.
The country was deluged with articles imported from
abroad, and the cash of the country has been sent out to
pay for them, and still left us labouring under the weight
of a huge debt to persons abroad. These are the true
sources to which we are to trace all the private difficulties
of individuals: But will a new government relieve you
from these? The advocates for it have not yet told you how
it will do it--And I will venture to pronounce, that there
is but one way in which it can be effected, and that is by
industry and oeconomy; limit your expences within your
earnings; sell more than you buy, and every thing will be
well on this score. Your present condition is such as is
common to take place after the conclusion of a war. Those
who can remember our situation after the termination of
the war preceding the last, will recollect that our condition
was similar to the present, but time and industry soon recovered
us from it. Money was scarce, the produce of the
country much lower than it has been since the peace, and
many individuals were extremely embarrassed with debts;
and this happened, although we did not experience the
ravages, desolations, and loss of property, that were suffered
during the late war.

With regard to our public and national concerns, what
is there in our condition that threatens us with any immediate
danger? We are at peace with all the world; no nation
menaces us with war; Nor are we called upon by any
cause of sufficient importance to attack any nation. The
state governments answer the purposes of preserving the
peace, and providing for present exigencies. Our condition
as a nation is in no respect worse than it has been for
several years past. Our public debt has been lessened in
various ways, and the western territory, which has always
been relied upon as a productive fund to discharge the
national debt, has at length been brought to market, and
a considerable part actually applied to its reduction. I
mention these things to shew, that there is nothing special,
in our present situation, as it respects our national affairs,
that should induce us to accept the proffered system, without
taking sufficient time to consider and amend it. I do
not mean by this, to insinuate, that our government does
not stand in need of a reform. It is admitted by all parties,
that alterations are necessary in our federal constitution,
but the circumstances of our case do by no means oblige
us to precipitate this business, or require that we should
adopt a system materially defective. We may safely take
time to deliberate and amend, without in the mean time
hazarding a condition, in any considerable degree, worse
than the present.

. . . . .

Far be it from me to object to granting the general government
the power of regulating trade, and of laying imposts
and duties for that purpose, as well as for raising a
revenue: But it is as far from me to flatter people with
hopes of benefits to be derived from such a change in our
government, which can never be realized. Some advantages
may accrue from vesting in one general government,
the right to regulate commerce, but it is a vain delusion to
expect any thing like what is promised. The truth is, this
country buys more than it sells: It imports more than it
exports. There are too many merchants in proportion to
the farmers and manufacturers. Until these defects are
remedied, no government can relieve us. Common sense
dictates, that if a man buys more than he sells, he will remain
in debt; the same is true of a country.--And as long
as this country imports more goods than she exports--the
overplus must be paid for in money or not paid at all.
These few remarks may convince us, that the radical remedy
for the scarcity of cash is frugality and industry. Earn
much and spend little, and you will be enabled to pay your
debts, and have money in your pockets; and if you do not
follow this advice, no government that can be framed, will
relieve you.